Med BioGene said that it will use the proceeds from the IPO to complete the validation of its first test, called LungExpress Dx, on a real-time, quantitative reverse transcriptase PCR platform. The test was initially developed on the Affymetrix GeneChip platform.
The company said it has signed a term sheet for an option to license patent applications related to knocking down beta III-tubulin using RNAi, an approach that has been shown to sensitize cancer cells to chemotherapy.
Based on a small, preliminary study, an NHGRI-led team concluded that smokers respond quite well to genetic test results provided online — a finding that could have implications for helping smokers kick the habit.
The technology "has broad potential uses in the development of cancer prognostic assays including response predictions to therapeutics as well as research tools and reagents," PrognosDx said in a statement.